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Dec 28, 2012
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so they didn't show as a deficit. a vendor ackley to the debt. so while the budgets were reasonable in that period of time, the actual spending didn't show in the budget and people didn't pay as much attention to the debt as they do today because it kept mounting and so we borrowed to pay for the war and in fact we didn't ask people to make sacrifices financially. >> there is a difference between borrowing in the future, paying for work and paying back words, we are having to pay right now. people might have felt differently if they had felt the pinch right at that time. we would have asked different questions and were asked, and i think that is one of the reasons we got where we are. and it's where we are. >> on appropriations could you have been any more vocal about it to provide us getting into this situation? >> welcome on was vocal about it. i don't know. when i got on the appropriations committee and became the chairman of the legislative branch all of the buildings, library of congress, congressional budget office, the cattle cars, office
so they didn't show as a deficit. a vendor ackley to the debt. so while the budgets were reasonable in that period of time, the actual spending didn't show in the budget and people didn't pay as much attention to the debt as they do today because it kept mounting and so we borrowed to pay for the war and in fact we didn't ask people to make sacrifices financially. >> there is a difference between borrowing in the future, paying for work and paying back words, we are having to pay right...
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Dec 28, 2012
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that have major catastrophe as that now all of a sudden in time of extremists in terms of our debt and deficit, that we're going to all of a sudden change that? and why are we changing that? especially since most of this money isn't going to be spent, isn't even going to be initialized for at least two years. i'd ask unanimous consent that that amendment be set aside and amendment 3370 be called up. the presiding officer: without objection. the clerk will report. the clerk: the senator from oklahoma, mr. coburn, for himself and mr. mccain, proposes an amendment numbered 3370, as modified. mr. coburn: i'd ask unanimous consent the amendment be considered as read. the presiding officer: without objection. mr. coburn: and per the request of senator schumer, i put a division in this amendment so we would have two votes on it separating out the fisheries because he thought that was important. i was glad to accommodate his needs. the main -- mr. schumer: will the gentleman yield? mr. coburn: i would be happy to. mr. schumer: i just want to thank him, he was gracious. there are two separate issues he
that have major catastrophe as that now all of a sudden in time of extremists in terms of our debt and deficit, that we're going to all of a sudden change that? and why are we changing that? especially since most of this money isn't going to be spent, isn't even going to be initialized for at least two years. i'd ask unanimous consent that that amendment be set aside and amendment 3370 be called up. the presiding officer: without objection. the clerk will report. the clerk: the senator from...
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Dec 27, 2012
12/12
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i don't believe it adds a penny to the deficit and it shouldn't be a victim of deficit reduction when it has nothing to do with the current deficit. secondly, i understand the importance of medicaid to those who are young, single moms, the disabled, the elderly, those suffering from mental illness. medicaid is critically important, and we can't let that be devastated, particularly in the struggling economy when so many people are out of work or working at jobs without health insurance. and third, medicare. in 12 years, medicare is going to go bankrupt. it will be insolvent. we have to sit down and honestly deal with entitlement reform that saves the program, doesn't lose them to the paul ryan budget approach but saves the program in a fiscally responsible way. now, that's the first thing we should agree on. both sides have to come together and be prepared to give. the second thing is it takes both sides. what speaker boehner proved to us last week is if you try to do so-called plan b in the republican caucus, no hope. but if you take a measure to the floor of the house and invite demo
i don't believe it adds a penny to the deficit and it shouldn't be a victim of deficit reduction when it has nothing to do with the current deficit. secondly, i understand the importance of medicaid to those who are young, single moms, the disabled, the elderly, those suffering from mental illness. medicaid is critically important, and we can't let that be devastated, particularly in the struggling economy when so many people are out of work or working at jobs without health insurance. and...
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Dec 28, 2012
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and really, is not interested in a balanced approach to deficit reduction. it's been pretty clear that that's the story we have been telling and it happens to be the truth. >> i understand that two of colleagues proposed cuts to medicare for a hike in the debt ceiling. what do you make of that offer? >> i think one of the things that people don't realize is that it's a dirty little secret. the republicans don't want to cut the things that americans want cut. and they want to cut things that americans don't want cut. poll after poll shown americans do not want deficit reduction done by cutting medicare and medicare and social security. so they propose and saw the same scenario when paul ryan put the budget out and because the american people rejected the kind of draconian cuts that the republicans want to make so, you know, that's a nonstarter in the senate. i think it's a nonstarter with the president. sure can pass the house but going nowhere past that. >> the smaller offer we hear that the president is making at 3:00, to congressional leadership, what kind
and really, is not interested in a balanced approach to deficit reduction. it's been pretty clear that that's the story we have been telling and it happens to be the truth. >> i understand that two of colleagues proposed cuts to medicare for a hike in the debt ceiling. what do you make of that offer? >> i think one of the things that people don't realize is that it's a dirty little secret. the republicans don't want to cut the things that americans want cut. and they want to cut...
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Dec 26, 2012
12/12
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some will argue we need for deficit reduction purposes. we need to load the about that outcome is spending on health care, so this is an important deficit reduction policy. but i would ask you, is the right of this group of people, 65- and 66-year olds, bearing the very large costs. is this the group you think should be bearing huge parts? i would argue this is not a particularly fair shared version of this group of people to be sharing 10% of their income in addition to growing health care cost. it's really not something that they can there. so for us this is a pretty simple equation. it doesn't make sense as a matter of health policy. it raises costs. it doesn't lower than. it increases the number of uninsured. it increases premiums for everybody else who remains in medicare because you have now taken younger people and healthier people out of medicare. .. >> i think we got that point. thank you, david. our final presentation is from paul dennett who is the senior vice president for health care reform in the american benefits counsel. am
some will argue we need for deficit reduction purposes. we need to load the about that outcome is spending on health care, so this is an important deficit reduction policy. but i would ask you, is the right of this group of people, 65- and 66-year olds, bearing the very large costs. is this the group you think should be bearing huge parts? i would argue this is not a particularly fair shared version of this group of people to be sharing 10% of their income in addition to growing health care...
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Dec 27, 2012
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health care, the biggest add to our deficit in this country is rising health care costs. do we need to tangle those? how do they interact with the changes that are going to be set up across the country. is it going to cost the taxpayer more or less? all those have to be in the realm of realistic facts and figures. >> you're in arizona today. many of your constituents worked over the holidays. do you think congress should have stayed in washington to work for an agreement? >> absolutely. absolutely. once you know, once the boehner plan "b" collapsed, all we got was a notification, you can go home. we'll call you when we're ready. boehner's got to get off -- the majority of the majority must agree to something. it's going to take democratic votes to pass a tough fiscal compromise and unless there is inclusion and discussion on both sides of the aisle about this issue, that compromise gets tougher and tougher. >> thank you for coming "outfront." >> appreciate it. thank you. >> now, on the other side of the aisle. republican congressman of wisconsin. congressman, you just hea
health care, the biggest add to our deficit in this country is rising health care costs. do we need to tangle those? how do they interact with the changes that are going to be set up across the country. is it going to cost the taxpayer more or less? all those have to be in the realm of realistic facts and figures. >> you're in arizona today. many of your constituents worked over the holidays. do you think congress should have stayed in washington to work for an agreement? >>...
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Dec 28, 2012
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we have a trillion dollars in deficit spending last four years. president says let's go back to the clinton levels of taxation. if we went back to the clinton levels of taxation we're still double the highest bush era of deficit spending still because spending was accelerated so much in 2009 and 2010. we're trying to bring the spending levels back down. on the contrary if we just brought the spending levels down to the clinton level spending instead of tax level going up to clinton level of tax it is would solve this. we're trying to solve the debt and deficit. we're trying to say how do we get out of debt. the president is saying let's get past the fiscal cliff and let's keep moving on. that doesn't solve the problem. what solves the problem is reducing spending and get our spending back down so our nation is back in balance again. jon: is it mostly medicare and perhaps social security that are the drivers of the problem in your view? >> it is everything that's on the table. when you look at our discretionary spending, how much that was accelerat
we have a trillion dollars in deficit spending last four years. president says let's go back to the clinton levels of taxation. if we went back to the clinton levels of taxation we're still double the highest bush era of deficit spending still because spending was accelerated so much in 2009 and 2010. we're trying to bring the spending levels back down. on the contrary if we just brought the spending levels down to the clinton level spending instead of tax level going up to clinton level of tax...
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Dec 29, 2012
12/12
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in the second quarter, rallying back from a 17-point deficit and off the rebound. the perfect alley-oop for the dunk and had 11. the wizards led by 3 at the half. in the second half, this time gives it to a cutting nene down the lane. two of his 23 points and the wizards in front by 8. late in the third quarter, crawford from beyond the arc, hits the 3- pointer and with 27 points. the wiz defeat the magic, 105- 97 for the fourth victoriy of the season and the third at home. tonight, a road game against the chicago bulls. >> all right, okay. so, tucker, one last weather word. we know that things are looking weird out there. >> and that is a winning streak. it's looking word. the accuweather seven-day forecast and that is nice, maureen and 39 tomorrow, breezes pick up and that is cold overnight and partly sunny, tuesday, yeah, and a snow shower for the -- . >> and that is it. we're back at 10 and the news edge. have a good night. here you go. you, too. i'm going to dream about that steak. i'm going to dream about that tiramisu. what a night, huh? but, um, can the tes
in the second quarter, rallying back from a 17-point deficit and off the rebound. the perfect alley-oop for the dunk and had 11. the wizards led by 3 at the half. in the second half, this time gives it to a cutting nene down the lane. two of his 23 points and the wizards in front by 8. late in the third quarter, crawford from beyond the arc, hits the 3- pointer and with 27 points. the wiz defeat the magic, 105- 97 for the fourth victoriy of the season and the third at home. tonight, a road game...
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Dec 27, 2012
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theses why we're getting massive deficits today. we have never had anything like this without a major war. you can rightly wrap the knuckles of george bush, but that does not excuse president obama for what he has done. democrats and republicans share blame for what happened with the federal reserve, not calling them to read and counto account. even though i am a republican, i am for candidates who do those things. host: c-span democrat tweets in, which your flat tax treat capital gains as income? guest: my proposal would not. if you get the rate low enough, that would be a compromise i would be happy to make. that is a kind of conversation we should be having, how we get the rate as low as possible. if you get that very low rate, i will be a supporter of it. host: independence day tweets in, are you telling us you will stop investing if capital gains rate goes up to equal the ordinary income rate? guest: it is not a matter what we do in our own business, media has gone through a real convulsion. in terms of when you make an investm
theses why we're getting massive deficits today. we have never had anything like this without a major war. you can rightly wrap the knuckles of george bush, but that does not excuse president obama for what he has done. democrats and republicans share blame for what happened with the federal reserve, not calling them to read and counto account. even though i am a republican, i am for candidates who do those things. host: c-span democrat tweets in, which your flat tax treat capital gains as...
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Dec 27, 2012
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finance our deficits. and this is precisely how it worked. and the trouble was -- and if you want to understand exactly how the capital gains profits were attracted to the united states -- there are some key elements. one was, the commiseration of blue-collar workers in the united states. there were some key elements. one was the proliferation of states. that kept prices low. even with the oil crisis, prices in the united states rose more slowly than they did in japan or europe. so, if you were japanese or german, the profits, where do you invest them? where do you keep them? you keep them with the low inflation rate. that is one reason. one mechanism that helps attract the capital from the rest of the world and close the loop. wall street was another. it has an amazing capacity to create a metaphysical value out of nothing. walmart was another. is promoted the ideology of cheapness, which was calculated -- encapsulated so brilliantly. nobody needs a gallon of pickles. i don't think it fits in a fridge. wh
finance our deficits. and this is precisely how it worked. and the trouble was -- and if you want to understand exactly how the capital gains profits were attracted to the united states -- there are some key elements. one was, the commiseration of blue-collar workers in the united states. there were some key elements. one was the proliferation of states. that kept prices low. even with the oil crisis, prices in the united states rose more slowly than they did in japan or europe. so, if you were...
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Dec 29, 2012
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that plan would have dealt with tax reform and deficit reduction and this will be a much more scaled back version that will deal with the issue of taxes and that is still the big sticking point, taxes. of course, democrats and president obama have called for tax rates to increase on those making $250,000 or less. republicans have said that's way too low. so they're thinking about potentially compromising on a rate that would be $400,000 or $500,000, but some republicans are saying they don't think that the tax rate should go up on anyone. so taxes still the major sticking point. right now the negotiations are going on the hill and there's a lot of optimism that came from the talks yesterday. of course, president obama hosted congressional leaders at the white house and they left that meeting and many said that it was constructive and they were optimistic that a deal could get done and i've been talking to my sources today and that same optimism isn't really present right now. there's more skepticism about a deal getting done and it is still very early in this process and this is a fl
that plan would have dealt with tax reform and deficit reduction and this will be a much more scaled back version that will deal with the issue of taxes and that is still the big sticking point, taxes. of course, democrats and president obama have called for tax rates to increase on those making $250,000 or less. republicans have said that's way too low. so they're thinking about potentially compromising on a rate that would be $400,000 or $500,000, but some republicans are saying they don't...
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Dec 27, 2012
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they say, almost every day, at the top of the list is the deficit. get the deficit under control. until we actually did it in the 1990's. why did i have this single- minded focus? because i've always understood the most important responsibility of government is the economic security of the people. if you do not have or fiscal affairs in order, we have learned in the economic downturns of my state that debt can work for you. it can also crushed you. i have seen people crushed by debt. i have not wanted to see the country go through those same problems. my family lived through the great depression in the 1930's. exacted a terrible toll on the people of my state. i have always been very focused on economic growth, economic opportunity, and being responsible with the resources that you have. >> during the last campaign, we frequently heard from the republican candidate that this country could become like greece. do you see that as a possibility? >> no, i do not see that as a -- i do not see us becoming a light breeze. it is a profoundly different situation. i do see the possibility th
they say, almost every day, at the top of the list is the deficit. get the deficit under control. until we actually did it in the 1990's. why did i have this single- minded focus? because i've always understood the most important responsibility of government is the economic security of the people. if you do not have or fiscal affairs in order, we have learned in the economic downturns of my state that debt can work for you. it can also crushed you. i have seen people crushed by debt. i have not...
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Dec 22, 2012
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it was a crisis created by congress and we're not really likely to see serious action on deficit and debt reduction, unless and until the crisis hits people in the face and they say to their representatives you'd better do something or else and then they'll act. >> always a pleasure, bill schneider and jonathan allen with his article out as we were talking about just today. thank you so much for stopping by. >> thanks, richard. >>> several funerals were held today for the victims of the newtown shooting. this is video from josephine's funeral in newtown. she turned 7 just before the shooting. executive vice president blamed the media and violent video games for violence in society. >> there exists in this country, sadly, a callous, corrupt and corrupting shadow in industry that sells and stows violence against its own people. through vicious, violent video games with names like bullet storm, grand theft auto, "mortal kombat" and "splatter house." >> joining me now is kasim reid of georgia, he's one of more than 750 mayors across the country who sent a heart to president obama asking
it was a crisis created by congress and we're not really likely to see serious action on deficit and debt reduction, unless and until the crisis hits people in the face and they say to their representatives you'd better do something or else and then they'll act. >> always a pleasure, bill schneider and jonathan allen with his article out as we were talking about just today. thank you so much for stopping by. >> thanks, richard. >>> several funerals were held today for the...
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Dec 30, 2012
12/12
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it doesn't help make lowering future deficits any easier. so there are some things we need to change about the corporate tax code but in general i think we need to realize that if we set our country on the right path making the right investments in technology and education and really making sure we don't cut the necessary programs that can help us do that growth and so we have to make them a priority and perhaps deprioritize other spending areas we will be able to grow with the global economy . manufacturing has already come back to some degree i know that apple computers are actually moving a couple production facilities back to the united states from china. there's a real key is to make sure that we're continuing to invest in those types of investments and help us compete on a global scale. but we should also realize that it helps us when apple can produce their goods in china in a more cheap efficient manner than we could here because american consumers can get i pods and i phones on a much discounted basis from what it would be if we tri
it doesn't help make lowering future deficits any easier. so there are some things we need to change about the corporate tax code but in general i think we need to realize that if we set our country on the right path making the right investments in technology and education and really making sure we don't cut the necessary programs that can help us do that growth and so we have to make them a priority and perhaps deprioritize other spending areas we will be able to grow with the global economy ....
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Dec 28, 2012
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go up, unemployment insurance is still available, and that lays the groundwork then for additional deficit reduction and economic growth steps that we can take in the new year, but let's not miss this deadline. that's the bare minimum we should be able to get done. >>> senate leaders say they hope to reach a compromise that could be presented to lawmakers by sunday, a little more than 24 hours before the deadline. >>> and don't miss "meet the press" on sunday morning. david gregory will interview president obama exclusively just hours before the fiscal cliff deadline. "meet the press" airs at 10:30 on monday morning. >>> police locked up tonight after a brazen crime spree. as jack write benson reports, one of the victims had choice words for those who were arrested. >> reporter: the occupants of this stolen car are -- i'm okay now. i just thank god he didn't hurt me. >> reporter: when sharon gardner first saw this nissan maxima, it was speeding away from the bp gas station with the man who had just stolen her purse in the backseat. >> i was in between vacuuming my car out. i was going from
go up, unemployment insurance is still available, and that lays the groundwork then for additional deficit reduction and economic growth steps that we can take in the new year, but let's not miss this deadline. that's the bare minimum we should be able to get done. >>> senate leaders say they hope to reach a compromise that could be presented to lawmakers by sunday, a little more than 24 hours before the deadline. >>> and don't miss "meet the press" on sunday...
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you know as well as i do this does nothing to deal with the $1 trillion plus deficits we have yearly. this is the fifth year in a row, we're going to have $20 trillion worth of debt on top of $48 trillion worth a long-term liabilities by the time mr. obama leaves office. this is the time to deal with this issue. we've been kicking it down the road ten years. we promised the nation in 2011 under the budget deal with the sequesters we would not let this get away from us. we shouldn't this time. for mr. obama to suggest i've cut a trillion in spending because he saved money on the wars in afghanistan is gimmicks. they a work. >> i have to be honest, it's both sides. it strikes me these lawmakers on either side don't have a real fix to what we're looking at, the national debt, screaming out of control. we're going to exceed that limit on monday night. >> i wouldn't disagree but look at the facts. we did have a republican controlled congress that passed a bill. if reid didn't like the bill, let it go for debate. let his senate vote it down and say no, we're not going to accept these condit
you know as well as i do this does nothing to deal with the $1 trillion plus deficits we have yearly. this is the fifth year in a row, we're going to have $20 trillion worth of debt on top of $48 trillion worth a long-term liabilities by the time mr. obama leaves office. this is the time to deal with this issue. we've been kicking it down the road ten years. we promised the nation in 2011 under the budget deal with the sequesters we would not let this get away from us. we shouldn't this time....
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Dec 24, 2012
12/12
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i'm not a deficit hawk. people on both sides do bothwell. i don't understand the fuss about raising the age qualification for social security are medicare. and plead with the caps -- simply lift the caps. franklin roosevelt to not want to be called a socialist. if we just lived in those caps, we would delay -- i can remember the exact numbers. for several decades, anyway. i think that would be less painful than raising the qualified age. medicare is the toughest because of health care costs have been skyrocketing. our country's health care cost is rising faster than any other industrial nation. we don't have much coronation. obamacare had to be cobbled together to appease everybody. we have it and we should be focusing on ways to make our health care more efficient and i think we will. these are all tough problems but they need to be handled. being president is like playing three-dimensional chess. maybe four dimensions. caller: thank you, c-span. is the last year, didn't the president give over $1 trillion in cuts? the caller blamed him for
i'm not a deficit hawk. people on both sides do bothwell. i don't understand the fuss about raising the age qualification for social security are medicare. and plead with the caps -- simply lift the caps. franklin roosevelt to not want to be called a socialist. if we just lived in those caps, we would delay -- i can remember the exact numbers. for several decades, anyway. i think that would be less painful than raising the qualified age. medicare is the toughest because of health care costs...
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Dec 30, 2012
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back to the 1980s when the deficits have started to explode, there have been four or five pieces of legislation over the past 30 years dating back to hollings that was the first sequester. the republicans in the house of representatives, they feel they were elected in 2010 to come here and cut spending. dealing with the tax increases, that's a smaller piece. and that seems to be the focus of these talks right now. getting everybody's hands wrapped around the spending component which again the super committee was supposed to take care of last year, they failed. the budget control act, other provisions, all of these things have failed because nobody wants to give. and that's why it is going to be tough to get this through the house of representatives because these republicans are locked in. they say, look, we have cut some spending here this past year. but it was not cut enough. it was not cut deeply enough. they say hold on, we have already cut. that's the longer heads. getting this through the house will be an uphill climb. >> and statistically, when you look at the surveys americans are dug in
back to the 1980s when the deficits have started to explode, there have been four or five pieces of legislation over the past 30 years dating back to hollings that was the first sequester. the republicans in the house of representatives, they feel they were elected in 2010 to come here and cut spending. dealing with the tax increases, that's a smaller piece. and that seems to be the focus of these talks right now. getting everybody's hands wrapped around the spending component which again the...
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Dec 30, 2012
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back to the 1980s when the deficits have started to explode, there have been four or five pieces of legislation over the past 30 years dating back to hollings that was the first sequester. the republicans in the house of representatives, they feel they were elected in 2010 to come here and cut spending. dealing with the tax increases, that's a smaller piece. and that seems to be the focus of these talks right now. getting everybody's hands wrapped around the spending component which again the super committee was supposed to take care of last year, they failed. the budget control act, other provisions, all of these things have failed because nobody wants to give. and that's why it is going to be tough to get this through the house of representatives because these republicans are locked in. they say, look, we have cut some spending here this past year. but it was not cut enough. it was not cut deeply enough. they say hold on, we have already cut. that's the longer heads. getting this through the house will be an uphill climb. >> and statistically, when you look at the surveys americans are dug in
back to the 1980s when the deficits have started to explode, there have been four or five pieces of legislation over the past 30 years dating back to hollings that was the first sequester. the republicans in the house of representatives, they feel they were elected in 2010 to come here and cut spending. dealing with the tax increases, that's a smaller piece. and that seems to be the focus of these talks right now. getting everybody's hands wrapped around the spending component which again the...
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Dec 29, 2012
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insurance is still available for 2 million people, and that lays the groundwork then for additional deficit reduction and economic growth steps that we can take in the new year. but let's not miss this deadline. that's the bear minimum that we should be able to get done. >> majority leader reid is ready to follow through on an up or down vote. reid said in a at the same time, "at president obama's request, i am readying a bill for a vote by monday that will prevent a tax hike on middle class families, making up to $250,000, and that will include the additional critical provisions outlined by president obama." president obama pointed out the danger of inaction. >> the economy is growing, but sustaining that trend is going to require elected officials to do their jobs. the housing market is recovering, but that could be impacted if folks are seeing smaller paychecks. the unemployment rate is the lowest it's been since 2008. but already, you're seeing businesses and consumers starting to hold back, because of the dysfunction that they see in washington. >> the president's stern statement echoe
insurance is still available for 2 million people, and that lays the groundwork then for additional deficit reduction and economic growth steps that we can take in the new year. but let's not miss this deadline. that's the bear minimum that we should be able to get done. >> majority leader reid is ready to follow through on an up or down vote. reid said in a at the same time, "at president obama's request, i am readying a bill for a vote by monday that will prevent a tax hike on...
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americans looking for a job and lace the ground work for future cooperation on more economic growth and deficit reduction. >> reporter: the current congress will be in session until january 3rd. after that, 13 new senators and 82 new house members will take over and unher it the huge problem out of the congressional gates. audrey barns, fox 5 news. >>> love that song. redskins fans coming down to tomorrow night's kickoffs against the rival, the cowboys. a lot is on the line and lindsay murphy joins us now. feels like christmas eve all over again. >> and i am going to -- some football. >> reporter: redskins have had nailbiters this year and this is the first since 1979 that both of the teams were fighting to make it in the season. >> and everyone in the media, you could not have scripted it better. >> i know. >> and this is against the most hated rival. >> reporter: they would guarantee themselves at least a wild card spot if the bears and vikes lose. they must beat dallas to win the division and advance to the post season. tomorrow will be the final game of the season for dallas if they lose an
americans looking for a job and lace the ground work for future cooperation on more economic growth and deficit reduction. >> reporter: the current congress will be in session until january 3rd. after that, 13 new senators and 82 new house members will take over and unher it the huge problem out of the congressional gates. audrey barns, fox 5 news. >>> love that song. redskins fans coming down to tomorrow night's kickoffs against the rival, the cowboys. a lot is on the line and...
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and so the deficit increased rather than declined. so it went from 220 billion in 1990 to 269 billion in 1991, 290 billion in 1992. i think that's directly relevant today because i think the obama tax increases are more likely to lose revenue rather than to gain revenue. for example -- >> clayton: we know what happened with president george h.w. bush, read my lips, no new tax and ended up going forward with some of those tax increases to part of the negotiation and democrats didn't come forward with entitlement cuts that were enough to actually counteract some of those tax increases. could we be seeing the exact same thing today? >> well, yes. for example, one big tax increase in the obama tax increase package is the capital gains tax rate is going to go up 58% on the higher income taxpayers. and so now in the last 50 years, every time the capital gains tax rate has been raised, capital gains revenues have declined rather than increased. and every time the capital gains tax rate has been cut, capital gains revenues increased rather th
and so the deficit increased rather than declined. so it went from 220 billion in 1990 to 269 billion in 1991, 290 billion in 1992. i think that's directly relevant today because i think the obama tax increases are more likely to lose revenue rather than to gain revenue. for example -- >> clayton: we know what happened with president george h.w. bush, read my lips, no new tax and ended up going forward with some of those tax increases to part of the negotiation and democrats didn't come...
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Dec 29, 2012
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insurance is still available for two million people and lays the groundwork for economic growth and deficit reduction. >> everything that has been happening in the last several hours has been happening behind the scenes. we have correspondents tracking everything for you. we have luke, luke, i will start with you this hour. the senate officially reconvenes tomorrow afternoon. i assume that there's a lot of closed door talks going on right now. is that true? what can you tell us? >> reporter: that is true, staff from harry reed and mitch mcconnell have been negotiating through the daout the day and in picked up. we have heard that both sides are not budgeting. but we don't know, things can change at any moment. if we have to gauge how to talks have gone so far from the conversations we have had here around capitol hill, they have not been too good at the moment. all that being said though, craig, there's a lot that can happen over the next 48 hours. the deal obviously is to try to have something on the floor that can pass the house of representatives by new year's eve. that is why it's so di
insurance is still available for two million people and lays the groundwork for economic growth and deficit reduction. >> everything that has been happening in the last several hours has been happening behind the scenes. we have correspondents tracking everything for you. we have luke, luke, i will start with you this hour. the senate officially reconvenes tomorrow afternoon. i assume that there's a lot of closed door talks going on right now. is that true? what can you tell us? >>...
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if, we have to do four things if we want to reduce the deficit. we have to get more revenue, we have to cut domestic spending, we have to trim and reform the health care programs in particular of medicare and medicaid and we have to cut defense. if we do all four of those things we can make significant down payment getting deficit under control. if we do some of them, the numbers are not there enough to make as much progress as we want. this is where mark and i agree. over next six to nine months we could see substantial progress towards smart fiscal policy in the country if the two parties come together. heather: we'll see what happens. thank you both very much for joining us until monday night. thank you. >> merry christmas. happy new year. [heavy breathing]. gregg: boy, remember that, video from april of 2011. monster tornado tearing through tuscaloosa, alabama, devastating the community and alberta baptist church. ever since then the church's pastor has been fighting insurers and fema and the city to try to rebuild. this month, finally some mo
if, we have to do four things if we want to reduce the deficit. we have to get more revenue, we have to cut domestic spending, we have to trim and reform the health care programs in particular of medicare and medicaid and we have to cut defense. if we do all four of those things we can make significant down payment getting deficit under control. if we do some of them, the numbers are not there enough to make as much progress as we want. this is where mark and i agree. over next six to nine...
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and kicked the can down the road and only talking about taxes which will do nothing to decrease the deficit. >> juliet: thank you for joining us and waking up at the bright and early hour of 6:10 a.m. >> clayton: thanks, curtis. let's check with maria molina, another snowstorm in ohio and east and some places in southern new england got up to a foot of snow. >> dave: and drivers be warned, five people hurt in new hampshire after a 20-car pileup and some airports saw slays and a plane taken off in sheing slid off the runway, and stuck in a snow bank, 6 6 on board. no one was hurt. >> juliet: for more on the conditions as mr. clayton morris said, maria molina. i was saddened not to see a white new years, pre-new years. >> we didn't see it accumulate in new york, in manhattan. outside, hoboken saw snow on the cars, but not on the ground or the streets, but place ins connecticut and massachusetts actually saw close to a foot of snow. i even sawmill ford, massachusetts over a foot of snow and some people did get lucky and needed snow across portions of we haven't is that much snow so far this wi
and kicked the can down the road and only talking about taxes which will do nothing to decrease the deficit. >> juliet: thank you for joining us and waking up at the bright and early hour of 6:10 a.m. >> clayton: thanks, curtis. let's check with maria molina, another snowstorm in ohio and east and some places in southern new england got up to a foot of snow. >> dave: and drivers be warned, five people hurt in new hampshire after a 20-car pileup and some airports saw slays and...
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Dec 24, 2012
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employment for 2 million americans, protect middle america the middle income americans and also work on deficit reduction. >> the president solution would still leave red ink as far as the eye could see. and difficult for jobs. >> this is it difficult for the brink of perpetual gridlock. >> this is likely that we will go over the fiscal cliff and not and if we allow that to happen. would be the most concord consequential, terrible act of gridlock. >> president obama is in hawaii but could possibly cut his vacation short to hammer out a deal. >> thousands of nurses will walk off the job today at nine bay area hospitals. nurses with sutter health's alta bates summit medical center are asking for negotiated labor contracts care protections. such as staffing levels, health benefits, and sick days. strikers say hospital officials want to reduce the number of paid sick days for nurses and technicians, while eliminating health care coverage for those who work fewer than 30 hours a week. >> analysts say many shoppers haven't been in the holiday spirit when it comes to spending money. the four-day black
employment for 2 million americans, protect middle america the middle income americans and also work on deficit reduction. >> the president solution would still leave red ink as far as the eye could see. and difficult for jobs. >> this is it difficult for the brink of perpetual gridlock. >> this is likely that we will go over the fiscal cliff and not and if we allow that to happen. would be the most concord consequential, terrible act of gridlock. >> president obama is...
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these are people providing us also with the means that float the deficit. these are people that are providing finances and this goes on long enough, they begin to think that. >> who? >> the foreign governments as well as markets. people sitting on enormous treasuries. the question then is they go hold it. if these guys are not serious, why am i depending on them so much? the scary scenario is people say before i continue to float the united states, i want to get a higher return in order to give in to this risk and uncertainty. that is the day the spiral begins because mr. bernanke and col colleagues have to think about raising rates and whether to attract the financing. what is scary about this cliff and the debt ceiling over the next two months to the end of february is for the rest of the world looking at us, we have about two months if not to solve everything, but to get enough ducks lined up that we continue to be at least border line serious. >> talking about border line serious, tim geithner's letter indicating we won't be able to pay our bills, are t
these are people providing us also with the means that float the deficit. these are people that are providing finances and this goes on long enough, they begin to think that. >> who? >> the foreign governments as well as markets. people sitting on enormous treasuries. the question then is they go hold it. if these guys are not serious, why am i depending on them so much? the scary scenario is people say before i continue to float the united states, i want to get a higher return in...
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Dec 26, 2012
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brianna keilar, realistically can there be a grandiose bill that will attempt to solve our spending, deficit problem, with the overall framework? or talking about a band-aid? >> personally, i don't think we'll get the big plan in the next six days. it would be great if we could. >> the whole enchilada. but at least if we can get an appetizer -- no, seriously. if we can get assurance that realistic work is being done to provide tax relief, regulatory relief. the two big laws passed previously in 2010. affordable care act, well intentioned, very costly and those are posing problems too. >> earlier this week, we spoke with grover norquist. you signed the pledge not to sign taxes. >> i did. >> he supported speaker boehner's plan "b" and said it wouldn't violate his pledge. here's what he told us earlier this week. listen. >> i think in fact, plan "b" is a good step to protecting tax cuts for everybody. >> if you look at current law, current law says as we all know, part of the fiscal cliff '01, '03 tax relief measures will expire on january 1st. at this point, everybody's taxes go up. we all kno
brianna keilar, realistically can there be a grandiose bill that will attempt to solve our spending, deficit problem, with the overall framework? or talking about a band-aid? >> personally, i don't think we'll get the big plan in the next six days. it would be great if we could. >> the whole enchilada. but at least if we can get an appetizer -- no, seriously. if we can get assurance that realistic work is being done to provide tax relief, regulatory relief. the two big laws passed...